JOHNSON & JOHNSON — Director's Dealing 2012

Nov 14, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: JOHNSON & JOHNSON (JNJ)
CIK: 0000200406
Period of Report: 2012-11-12

Reporting Person: CULLEN JAMES (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-11-12	Common Stock	M	6300	$52.20	Acquired	14704	Direct
2012-11-12	Common Stock	M	7600	$53.93	Disposed	22304	Direct
2012-11-12	Common Stock	S	13900	$69.70	Disposed	8404	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-09-30	Deferred Share Units	$	A	901	Acquired		Common Stock (901)	Direct
2012-11-12	Non-Employee Director Stock Options (Right to Buy)	$52.20	M	6300	Disposed	2013-02-08	Common Stock (6300)	Direct
2012-11-12	Non-Employee Director Stock Options (Right to Buy)	$53.93	M	7600	Disposed	2014-02-07	Common Stock (7600)	Direct

Footnotes

F1: Includes 282 shares held under Issuer's Dividend Reinvestment Plan.

F2: The dividends accrued as Deferred Share Units under the Issuer's Amended and Restated Deferred Fee Plan for Directors are to be settled in cash upon the Reporting Person's Retirement (with each Deferred Share Unit representing the fair market value of one share of Common Stock on the settlement date).

F3: Awarded under the Stock Option Plan for Non-Employee Directors and exercisable in full one day after the first anniversary of the grant.